Global amyotrophic lateral sclerosis drugs market forecast to expand by 5.4% CAGR during 2013 to 2018
Global Amyotrophic Lateral Sclerosis Market 2014-2018 - a new market research report on companiesandmarkets.com
PR-Inside.com: 2014-04-11 10:00:02
The Global Amyotrophic Lateral Sclerosis Drugs Market is forecast to grow at a CAGR of 5.39 percent over the period 2013-2018. One of the key factors contributing to this market growth is the increasing global aging population. The Global Amyotrophic Lateral Sclerosis Drugs Market has also been witnessing the increasing awareness of ALS drugs. However, the patent expiry of Rilutek could pose a challenge to the growth of this market.
Key vendors dominating this space include Covis Pharmaceutical Inc., Eisai Co. Ltd., GlaxoSmithKline plc, and Mitsubishi Tanabe Pharma Corp.
Other vendors mentioned in the report are Amorfix Life Sciences Ltd., BrainStrom Cell Therapeutics Inc., Newron Pharmaceuticals S.p.A, Neuraltus Pharmaceuticals Inc., Nutra Pharma Corp., Oxford BioMedica plc, Pharnext SAS, and Q-Therapeutics Inc.
The following companies represent the key players in Global Amyotrophic Lateral Sclerosis Market: Covis Pharmaceutical Inc., Eisai Co. Ltd., GlaxoSmithKline plc, and Mitsubishi Tanabe Pharma Corp.
The acceptability of ALS drugs is expected to rise due to increasing public awareness of ALS and associated disorders. This is expected to result in increasing drug penetration. Rising general awareness about ALS has led to an increase in research funding and support for clinical and support services. For instance, May is celebrated as ALS awareness month. The ALS Association strives to involve and engage patients and families in the process of increasing awareness and advocating for legislative changes. Similarly, CDMRP also organizes the ALS Research Program. The global research effort through this program has helped increase the number of scientists working on ALS, advanced new discoveries and treatments, and has shed light on the complex genetic and environmental factors involved in ALS.
One of the main drivers in this market is the increase in the aging population. The number of patients suffering from ALS is increasing due to its relatively high prevalence in the elderly population.
Further, one of the main challenges is the patent expiry of Rilutek. The patent expiry of Rilutek, the only marketed drug for the treatment of ALS, will result in the loss of market exclusivity.
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